Bill Text: MO HB1321 | 2010 | Regular Session | Introduced
Bill Title: Authorizes a percentage reduction in real and personal property taxes for certain property owners 70 years of age or older
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2010-02-03 - Referred: Ways and Means (H) [HB1321 Detail]
Download: Missouri-2010-HB1321-Introduced.html
SECOND REGULAR SESSION
95TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE PARSON.
3825L.01I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To amend chapter 135, RSMo, by adding thereto one new section relating to property tax relief for senior citizens.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.036, to read as follows:
135.036. 1. As used in this section, "property owner" means any resident of this state who owns any real or personal property located in this state, and who is seventy years of age or older as of January first of the year in which the property owner claims a reduction of property tax under this section, or whose spouse is seventy years of age or older as of January first of the year in which the property owner claims a reduction of property tax under this section if such property owner's income tax filing status is married filing combined.
2. For all calendar years beginning on or after January 1, 2011, any property owner may claim a reduction in the amount of property taxes levied on the property owner's real or personal property. The property owner shall notify each county collector or the county clerk in counties with a township form of government in which the property owner's real or personal property is located that such property owner is eligible for a reduction of property taxes under this section in each year in which the property owner is eligible. Upon receiving notice that a property owner is eligible under this section, the county collector or the county clerk in counties with a township form of government shall reduce the property owner's property tax liability by ten percent for each year that the property owner is seventy years of age or older. Upon reaching eighty years of age, no real or personal property owned by such property owner shall be subject to property taxes levied on any real or personal property owned by such property owner.
3. All revenue losses of any political subdivision resulting from the exemption contained in this section shall be reimbursed to those political subdivisions by the state of Missouri through appropriations. Data substantiating such revenue losses shall be provided to the state auditor in such form as shall be prescribed by the state auditor by rule. The required data shall be submitted for each political subdivision levying a property tax and shall be submitted by either the county or the individual taxing authority as requested by the state auditor. Calculation or verification of the revenue loss shall be determined by the state auditor subsequent to the annual property tax rate review completed under section 137.073. All data and documents substantiating the revenue loss for each political subdivision shall be copied to each county clerk respectively, and shall be retained and made available for public inspection by the county for a minimum of three years.
•
